If the noteholders decide to decline the offer from BNB then it will go into administration and will be delisted.
If noteholders decide to accept the offer from BNB then BNB will not be put into administration, but I think that the directors can possibly do a deal with shareholders to try and delist from the ASX. I could be talking rubbish though. I wouldn't get your hopes up regarding an offer for shareholders. I mean noteholders are likely to get offered diddly squat and we're already considered the terd on the shoes of the bankers. Shareholders are the microbes that live on the terd on the shoes of the bankers in the grand scheme of things.
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